A contracted deposit is a corporate local currency time deposit issued by BOCOM and approved by the People’s Bank of China for special customers, including Chinese-funded insurance corporate legal persons, the National Council for Social Security Fund, personal pension insurance account fund and China Postal Savings & Remittance Bureau. Upon signing of the contracted deposit agreement by the bank legal person and the specially designated corporate legal person, a contracted deposit certificate will be issued by BOCOM. Interest rate level, deposit maturity term, interest settlement and payment modes and penalties for contractual breach will be determined through negotiation between both parties.

Salient feature

A contracted deposit is a time deposit featuring a large deposit amount and a long maturity term.

(2)Minimum deposit amount of contracted deposits for the National Council for Social Security Fund and personal pension insurance account fund is RMB 500 million;

(3)Maturity term of contracted deposits for insurance companies, the National Council for Social Security Fund and personal pension insurance account fund is above 5 years (not inclusive of 5 years);

(4)Maturity term of contracted deposits for postal savings is above 3 years (not inclusive of 3 years).

Interest rate

(1) Interest rate of contracted deposits is determined by negotiation between both parties;

(2) Interest settlement, mode of interest payment and penalties for contractual breach is determined by negotiation between both parties.

Procedures for opening an account:

(1)Applicant submits to BOCOM an account-opening application, together with both the original and duplicate copies of business license, with an imprint of official chop; and BOCOM proceeds to open an account for the applicant with a Bank of Communications Contracted Deposit Account Opening Confirmation certificate bearing the applicant’s name (hereinafter referred to as Confirmation);

(2)Depositors who already have a deposit account or do not wish to open a deposit account only need to submit an Insurance Contracted Deposit Agreement certificate; and BOCOM is only required to open a name-bearing deposit confirmation certificate for the customer;

(3)The confirmation certificate shall specify “Pursuant to Contracted Deposit Contract Entered into Between Bank of Communications and XX on the XX Day of XX Month of XX”.

Mode of Withdrawal

(1)Contracted deposits cannot be withdrawn before maturity; customers with an emergency need for funds may raise capital by hypothecating their contracted deposit certificates;

(2)On the day of maturity, customers are required to be present at the branch outlet where their accounts were opened to complete the necessary procedures. BOCOM will in effect transfer both the principal sum with interests to the customer’s designated account via a mode of transfer specified.